Growth estimates revised upward

Forecasts by the government, the Bank of Greece and economic analysts on this year's growth rate are being revised upward to 2-2.5%, compared to the 1.8% that had been foreseen in the 2023 budget.

According to sources, the Bank of Greece now sees GDP growing at a rate of 2.2%, as will emerge from the governor's report on April 9, against a forecast of 1.5% in December 2022 in its interim report.

The government is making the necessary adjustments in view of the Stability Program 2024-2027, which it will submit to Brussels by end-April, with Finance Minister Christos Staikouras revealing on Tuesday on Skai that the new growth forecast is 2.3%. He also said the inflation forecast is being revised to around 4.5%, from the 5% forecast in the budget. Finally, the forecast for unemployment is below 12%, he said, compared to the budget estimate for 12.6%.

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